goods and sales tax

English

Noun

goods and sales tax (plural goods and sales taxes)

  1. A tax similar to goods and services tax, in certain countries and states.
    Synonym: (abbreviation) GST
    • 2012, Kui-wai Li, Economic Freedom: Lessons Of Hong Kong, page 538:
      the goods and sales tax (GST) was first discussed in 1986 when the then Financial Secretary, John Brembridge, suggested the introduction of the GST as a solution to the narrow tax base.
    • 2016, Dr. Sunil Gupta, Thoughts Gallery: Thoughts Gallery: A Treasury of Inspiring Thoughts and Quotes, page 205:
      The July budget is likely to set a deadline for the implementation of two key tax reforms – the Goods and Sales Tax (GST) and Direct Taxes Code (DTC) – which till now did not get consensus from all the states. It is estimated that with GST in place, India's GDP will shoot up by a minimum of 1.5 to two percentage points
    • 2018, Dietmar Braun, Fiscal Policies in Federal States:
      There are several instances when provinces have used their latitude in this respect to 'fill in' the tax room the federal government has left when abating its sales tax and later the Goods and Sales Tax (GST).
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